SUNNY OPTICAL(HK:02382) Ge Long Hui·2026-01-09 04:52Core Viewpoint - Sunny Optical Technology (02382.HK) is experiencing a significant divergence in market evaluation following its announcement to consider spinning off its automotive business, with a potential for a short-term rebound despite recent stock price declines [1]. Group 1: Stock Performance and Market Sentiment - As of January 8, 2026, Sunny Optical's stock price closed at HKD 63.85, down 4.13% with a trading volume of HKD 1.311 billion, nearing the lower boundary of the Bollinger Bands [1]. - Major institutions, including Bank of America, Citigroup, and Morgan Stanley, maintain "Buy" or "Overweight" ratings with target prices ranging from HKD 90 to HKD 104, indicating optimism about the spin-off's potential to unlock value and accelerate growth [1]. - The latest stock price on January 9 is HKD 64.8, reflecting a rebound of 1.49% [1]. Group 2: Technical Analysis - Technical indicators suggest that Sunny Optical has entered a critical technical zone, with multiple signals indicating a potential short-term rebound [2]. - The current RSI value is at 41, with stochastic and CCI indicators showing "oversold" conditions, generating buy signals [2]. - Key resistance levels are identified at HKD 67 and HKD 70.4, while immediate support levels are at HKD 62.3 and HKD 59.6 [2]. Group 3: Derivative Products and Strategies - Recent history shows that derivative instruments have effectively captured or hedged against the downside risk of the underlying stock, with put options gaining approximately 5% during a recent decline [5]. - Investors are advised to consider call options with exercise prices around HKD 68 to 69, as these are deemed to have reasonable price ranges and align with technical resistance levels [7]. - For those concerned about market adjustments or seeking to hedge risks, put options like Huatai's with an exercise price of HKD 53.8 offer a high leverage of up to 6 times, although they are classified as deep out-of-the-money options [11].